@PetulaClark ,
“Many LACs often discount the tuition price tag a lot, and it looks like a good deal. Then you look at the amount the school is spending to educate its undergrads.”
I’m wondering … how do you really know how much a school is spending to educate its undergrads. If you know anything about accounting, you know that spreading things like fixed costs, while convention, is not mean to indicate the actual experience on the margin.
And, w/ LACs, there’s one thing that’s not reducible to an accounting number: the effect, or advantage, of an advantageous faculty to student ratio, and the prevalence of small classes.
As I often say when defending small colleges: all throughout our children’s education, we fight (and many of us pay) for smaller class sizes. And there is only one reason we do this: because we feel that it directly impacts our kids’ educations. Nobody wants to send their kid to the high school with the largest class sizes.
Then, all of sudden, one year later, it doesn’t matter that your kid is learning economics, an area often not taught in high schools, in an auditorium with 850 kids taught by a TA.
How do you factor that in your calculus of “spending per student”.
Understand that at mega U, spending per student is going to include a lot crap that doesn’t matter to your child’s undergraduate education, and it’s also going to include a lot of stuff your kid will never see or touch.
No, the LAC will never be a “good deal” from a value punch standpoint. It’s damn expensive. But is still the gold standard in undergraduate education.
There is a reason why kids, including mine, who have options, choose to forego ESPN College Game Day coming to their campus. It’s not that they all hate division 1 sports or that they all lack pride in their respective state flagships.
Someone cited an article about Vanderbilt profs, and how at the time of a study or review of something related to this, the number of faculty at Vandy who sent their kids to LACs was in the 80 to 85% range.
While I’ve certainly never done a study myself, that is certainly consistent with my anecdotal experience here in Seattle and in Palo Alto.
FInally, I assume when you mean “discount the tuition price tag”, you are referring to financial aid, correct? I assume that’s not a point of criticism.